SEC DG: Listed companies declared N1.1trn dividends in 2024

The Securities and Exchange Commission (SEC) says listed companies declared dividends totalling N1.1 trillion to shareholders in 2024, and N1 trillion of that amount has already been paid.

At the first quarter capital market committee (CMC) meeting recently held in Lagos, Emomotimi Agama, the director general (DG) of the SEC, said the dividends reflect improved market confidence and investor returns.

The director general also said the commission, between January and December 2024, approved a total of N3.68 trillion in new issues.

“This comprised N59.82 billion in fixed income issuances and N3.62 trillion in equities, reflecting strong investor appetite and issuer confidence in the equity segment of our market,” he said.

“For the period spanning January to April 2025, we have so far approved new issues valued at approximately N446.38 billion.

“Of this amount, N265.90 billion was raised through fixed income instruments, while N180.48 billion was mobilised via equities.”

Speaking on mergers and acquisitions, the DG said the SEC in 2024 approved 11 transactions with an aggregate value of N320.36 billion.

“Most notable of these was the acquisition of a 58.02 percent equity stake in Guinness Nigeria Plc by N Seven Nigeria Ltd., valued at over N103.7 billion,” the director-general said.

“There were also three corporate restructuring transactions, two share capital reconstructions, one takeover, and four registrations of securities.

“Among the notable corporate restructuring transactions was the scheme of arrangement involving Flour Mills of Nigeria Plc, valued at over N105 billion, and the share capital reconstruction by Transnational Corporation Plc, which saw a one-for-four share consolidation amounting to N5.08 billion.”

He further said the commission had approved three major transactions year-to-date worth N38.53 billion.

“This includes two takeovers and one corporate restructuring. While no mergers have been recorded within the review period, the pace of market activity remains steady, with continued interest in strategic consolidation and reorganisation across key sectors,” Agama explained.

“These activities reflect continued strategic realignments within the market.”

‘COLLECTIVE INVESTMENT SCHEMES HIT N3.84TRN IN Q4 2024’

The director-general said collective investment schemes recorded robust expansion with a combined net asset value of N3.84 trillion as of the fourth quarter of 2024.

“Registered mutual funds reached 184 in number, with a combined net asset value of N3.84 trillion and over 800,000 unit holders,” he said.

“Privately managed portfolios and products grew to 444 vehicles with assets under management totalling N4.69 trillion. In aggregate, 82 active asset management firms oversee N8.53 trillion in investments.

“These figures reflect a maturing market where professional fund management is increasingly recognised as a critical driver of capital formation and wealth creation.”

Agama added that the figures are indicative of sustained activity in the market, particularly as issuers continue to leverage both the debt and equity segments to finance growth and investment.